Many moons ago I would post my Bitcoin cryptographic protocol schemes here and be ripped to shreds by the crypto gods at /r/bitcoin. Well, I’ve got a new scheme for you all that I’ve been working on. This one isn’t based on money or anything like it. It’s an algorithm for data compression, and it uses a new cumulative form of proof-of-work as a heuristic filtering algorithm to solve the random data compression problem.
I’ve been running some code now on a small compute cluster and think it might be up /r/bitcoin‘s alley. I want to share with you all what I have so far. Which is code that’s about 90% done, many experiments, and what is the first draft of a basic paper. Bitcoin experts: do your worst.
P.S. I get around the pigeon hole problem with indexing outside the data format. It will make sense when you understand the algorithm more. Or it won’t and I’ll just be wrong.
THE PAPER: https://roberts.pm/index.php?p=article&path=rand&category=cryptography